HFF Represents 601W Companies in Acquisition of Chicago's Old Post Office

CHICAGO--(BUSINESS WIRE)--

Holliday Fenoglio Fowler, L.P. (HFF) announced today the closing of the Old Post Office, Van Buren Street, Chicago sale, a 2.7 million-square-foot, riverfront development site on the southwest side of downtown Chicago.

New York-based investment group 601W Companies purchased the site and was represented by HFF senior managing directors Jaime Fink and Jeffrey Bramson in the transaction. The seller, International Property Developers North America (IPDNA), was represented by Richard Sykes of Savills UK and Lisa Davidson and Tiffany Winne of Savills Studley.

The Old Post Office property consists of the former art deco-style Post Office Building and adjacent sites, which were acquired by IPDNA in 2009. Detailed planning entitlements incorporating an additional 7.5 million square feet were obtained from the City Council in 2013; designed by the eminent Chicago architects Antunovich Associates. Situated at 433 West Van Buren Street, the property is adjacent to the Eisenhower Expressway, within walking distance of Union Station and located above connections to the CTA Blue Line Station, Metra, Amtrak and the future high-speed rail terminal platforms. The riverfront location also allows for potential access to water taxi, riverboat and tour boat terminals.

About 601W Companies

The principals of 601W oversee one of America's leading private real estate acquisition, ownership, development and management portfolios in the country. Over the past 15 years, 601W has acquired a number of substantial and well-known commercial properties throughout the country, aggregating 24 million square feet, with a collective value in excess of $5 billion. In relation to these deals, 601W has raised more than $1 billion in equity, mostly from longstanding investors, and has consummated transactions involving 32 major office buildings, including 11 in Manhattan. 601W has extensive holdings in Chicago with large acquisitions such as the Aon Center (2.75 msf), Prudential Center (2.3 msf); 600 West Chicago (1.6 msf); 111 West Jackson (550,000 sf); Civic Opera Building (900,000 sf); and 180 N. La Salle (770,000 sf). 601W also owns the Starrett Lehigh Building in Manhattan (2.3 msf); Whale Square, Brooklyn (400,000 sf); the US Steel Building in Pittsburgh (2.3 msf); and the Bank of America Tower in San Francisco (1.8 msf).

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm's comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 27 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service. The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L). For more information, please visit www.savills-studley.com and follow us on LinkedIn and Twitter @SavillsStudley.

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HF. HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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